tax changes

Discussion in 'Current Events' started by moreluck, Oct 2, 2008.

  1. moreluck

    moreluck golden ticket member

    LET'S ALL GO INTO THIS ELECTION WITH OUR EYES WIDE OPEN! The following data, taken from the public record, reveals each Presidential Candidate's proposed TAX Plan, if elected. Each taxpayer should become more informed before the November-08 General Election......or be willing to pay the tariff of ignorance, once taxes are enacted.

    INTERESTING DATA ON TAXES
    >
    > Spread the word.....
    >
    > This is something you should be aware of so you don't get blind-sided.This is really going to catch a lot of families off guard. It should make you worry.



    PROPOSED TAXES AFTER THE GENERAL ELECTION:

    > CAPITAL GAINS TAX
    >
    > MCCAIN
    > 0% on home sales up to $500,000
    > per home (couples) McCain does not
    > propose any change in existing
    > home sales income tax.
    >
    > OBAMA
    > 28% on profit from ALL home sales
    >
    > How does this affect you?
    > If you sell your home and make a profit, you
    > will pay 28% of your gain on taxes.
    > If you are heading toward retirement
    > and would like to down-size your
    > home or move into a retirement
    > community, 28% of the money you
    > make from your home will go to taxes. This
    > proposal will adversely affect the
    > elderly who are counting on the income
    > from their homes as part of their retirement income.
    >
    > DIVIDEND TAX
    >
    > MCCAIN 15% ( no change)
    >
    > OBAMA 39.6%
    >
    > How will this affect you?
    > If you have any money invested in stock
    > market, IRA, mutual funds,
    > college funds, life insurance, retirement
    > accounts, or anything that pays
    > or reinvests dividends, you will now
    > be paying nearly 40% of the money
    > earned on taxes if Obama become president.
    > The experts predict that 'higher
    > tax rates on dividends and capital gains
    > would crash the stock market yet
    > do absolutely nothing to cut the deficit.
    >
    > INCOME TAX
    >
    > MCCAIN (no changes)
    >
    > Single making 30K - tax $4,500
    > Single making 50K - tax $12,500
    > Single making 75K - tax $18,750
    > Married making 60K- tax $9,000
    > Married making 75K - tax $18,750
    > Married making 125K - tax $31,250
    >
    > OBAMA
    > (reversion to pre-Bush tax cuts)
    > Single making 30K - tax $8,400
    > Single making 50K - tax $14,000
    > Single making 75K - tax $23,250
    > Married making 60K - tax $16,800
    > Married making 75K - tax $21,000
    > Married making 125K - tax $38,750
    >
    >
    > Under Obama your taxes will
    > more than double!
    > How does this affect you? No explanation
    > needed. This is pretty
    > straight forward.
    >
    > INHERITANCE TAX
    >
    > MCCAIN 0% (No change, Bush repealed this tax)
    >
    > OBAMA Restore the inheritance tax
    >
    > How does this affect you? Many families
    > have lost businesses,
    > farms and ranches, and homes
    > that have
    > been in their families
    > for generations because they could not
    > afford the inheritance tax.
    > Those willing their assets to loved
    > ones will not only lose them to these taxes.
    >
    > NEW TAXES BEING PROPOSED BY OBAMA
    >
    > * New government taxes proposed on
    > homes that are more than
    > 2400 square feet
    >
    > * New gasoline taxes (as if
    > gas weren't high enough already)
    >
    > * New taxes on natural resources
    > consumption (heating
    > gas, water, electricity)
    >
    > * New taxes on retirement accounts
    > and last but not least....
    >
    > * New taxes to pay for socialized medicine
    > so we can receive the same
    > level of medical care as other
    > third-world countries!!!





     
  2. moreluck

    moreluck golden ticket member

  3. GlenBurnie

    GlenBurnie New Member

  4. wkmac

    wkmac Well-Known Member

    I'm glad someone is picking up Jones' slack, the lazy slacker! He needs a do-better-letter for no sense of urgency.
    :wink2:

    Good catch Glen!
    :thumbup:
     
  5. wkmac

    wkmac Well-Known Member

    Another reason to have strong doubts about republicon claims of tax cuts is to remember the 1982' TEFRA http://en.wikipedia.org/wiki/Tax_Equity_and_Fiscal_Responsibility_Act_of_1982
    when Reagan gave us the largest peacetime tax increase in history up to that point.

    Circa Sept. 1982' we had the following entitled "Death of Reaganomics" and boy did it die a death and with it the last vestiges of free market ideas and non-interventionism thinking.

    http://www.mises.org/journals/lf/1982/1982_09.pdf starting page 3

    Republicons are out and out lying when they sell the conjob of taxcuts. Granted Obama is no better by any stretch but stop falling for that non sense that republicons believe in free markets, limited gov't and lower taxes. This week they've proven themsleves to be exactly opposite of those ideals and principles.
     
  6. paidslave

    paidslave New Member

    Does anybody see any trend with Republican presidents and National debt? Speaking of Reagan first....if McCain gets into Office rest assured we will be completely bankrupted....can we take a chance for more of the same?






    Reaganomics Key Points:
    • The national debt when Ronald Reagan took office was about $1 trillion. That included in it all the debt run up for the Revolutionary war, the Spanish-American war, the Civil war, World War I, World War II, the Korean war, the Vietnam war and all the Social wars of the 1930's and subsequent years. In other words it took the United States from 1776 until 1980 or more than 200 years to accumulate a national debt of $1 trillion.
    • Ronald Reagan left us a national debt of about $3.5 trillion or $3,500 billion.
    • Given the spending habits established by the legacy of Ronald Reagan the national debt is now a little over $7 trillion! (Click for excellent charts for what and where we spend)
    • The interest cost on the national debt now runs about $318 billion a year! When Ronald Reagan took office they were about $53 billion a year.
     
  7. tieguy

    tieguy Banned

     
  8. wkmac

    wkmac Well-Known Member

    Hey Paid, this morning I saw this feature on http://www.cnn.com/video/#/video/us/2008/10/04/dnt.lemon.natl.debt.clock.cnn.

    It reminds me almost in 1913' when the 16th amendment (Income Tax) was being debated and at the time the highest tax rate was 1%. Someone proposed they include in the law a cap that the tax rate could never go above 5% and the Congress laughed as if someone had just said that aliens with land in Roswell NM in 1947' too.

    I guess in the early 1980's when the clock was put up that the thought of the debt going over $10 trillion was also like them little green men.

    Geez! I just had the thought that maybe those were little green men in Roswell after all!

    :bigsmile2:
     
  9. 1989

    1989 Well-Known Member

    Let's just all pay our $80,000 and be done with it. Maybe make $20,000 a year payments over 4 years.
     
  10. edd_tv

    edd_tv Cardboard picker upper


    now thats patriotism!!!